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Tackling Debt with Debbi King

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John interviews author and financial coach - Debbie King. She is the owner of a firm called the ABCs of Personal Finance and helps people of all stages deal with debt. Debbi shares her intimate story of how she accumulated almost $200k in personal debt, before having her meltdown moment and deciding to turn everything around and pay it off in about 5 years. Debbi's story is inspiring and is a great resource for those educating themself in personal finance.

 

Episode Highlights:

  • Debbie King talks about what money was like in her home when she was growing up. 
  • How did Debbi start accumulating debt? 
  • What life stage did she realize she was overspending and something had to change?
  • How many years did it take to conquer her debt? 
  • What are the three books about personal finance that Debbi King wrote? 
  • By getting your kids to spend their own money will help teach them about priorities and not wasting money.  
  • Why don’t parents like to say no to their kids?
  • Nothing in life is free. 
  • What advice does Debbie King recommend about personal finance? 

 

3 Key Points:

  1. Debbi went to her mother, her grandmother, and the bible to get better money management habits. 
  2. Debt is not the problem...debt is where the problem shows up. 
  3. Personal finance is 90% emotion and 10% math.

 

Tweetable Quotes:

  • “The only way you are going to change is by taking action and deciding you are going to do it. And getting mad enough that you are going to do it.” – Debbie King
  • “It’s a matter of selling stuff and getting rid of stuff and just doing what you need to do..” – Debbie King
  • “Personal finance is personal and what worked for me might not work for somebody else, and vice-versa.” – Debbie King

 

Resources Mentioned:

             Debbi King

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